1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 264
NVIDIA Corporation (NASDAQ:NVDA) is one of the best long-term tech stocks to buy according to hedge funds. NVDA has a five-year forward EPS growth rate of nearly 38%.
NVIDIA Corporation shares have surged over 27% in one month as of April 27. NVDA is continuing its longest winning streak since 2023 with over 10 consecutive sessions of increases. Will NVDA continue the rally? Analysts see momentum in the stock and expect NVDA to increase on average by more than 28% with an expected price target of $267.50. Out of 70 analysts covering the chipmaker, 65 rate the stock as a Buy. But what’s actually pushing NVDA?
The company’s recent rally is backed by robust demand for its next-gen Vera Rubin platform, notable AI product launches, and the potential peace talks between the US and Iran.
Among all these catalysts, the rising interest in Vera Rubin remains the key for NVDA’s push. The next-gen AI platform is already in high demand from hyperscalers and large enterprises. Here is what Sam Altman, CEO of OpenAI, had to say about Vera Rubin:
NVIDIA infrastructure is the foundation that lets us keep pushing the frontier of AI. With NVIDIA Vera Rubin, we’ll run more powerful models and agents at massive scale and deliver faster, more reliable systems to hundreds of millions of people.
Rubin will power large-scale AI training and inference, while the early demand for it is viewed as the next catalyst that could extend NVIDIA Corporation’s data-center supremacy into 2027.
NVIDIA Corporation (NASDAQ:NVDA) is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units. Through its CUDA ecosystem, the company enables industries ranging from autonomous vehicles to scientific research by advancing AI, accelerated computing, and data center infrastructure.
While we acknowledge the potential of NVDA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about the cheapest AI stock.
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